Thai developer BCPG has agreed to buy a 40% stake in a wind power company from the Philippines.
BCPG, a unit of Bangchack Petroleum, said it will acquire the equity interest in PetroWind Energy from CAIF III.
PetroWind owns a 36MW wind farm and is developing a 14MW project in Nabas, Western Visayas Island.
The deal was made through the acquisition of interests in CapAsia ASEAN Wind Holdings Cooperatief and is expected to close in the first quarter of the year, BCPG said.
The company, which has solar investments in Thailand and Japan, aims expand its renewable energy business throughout Asia.
Image: SXC
